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Posts Tagged ‘collectibles’

A recently released white paper from Ace Private Risk Services reminds financial advisors that many investors are increasingly turning to their passion for fine art, wine and other collectibles in an effort to rebalance their investment portfolios. Sound risky? Well, it is not uncommon that well managed collections outperform more conventional investments.

This strategy is not without risks, as many collectors and their financial advisors often do not take the extra steps to intelligently manage the hidden risks that can threaten the value of their collections. To learn more about the “Eleven Steps for Protecting Passionate Investments”,  click here to access the white paper on Ace’s website.

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Frances Zeman, Accredited Senior Appraiser of the American Society of Appraisers, reminds us in this important one page primer of the importance of being able to document the value of what one owns.  Ms. Zeman encourages collectors to consider themselves as custodians for the property they own, and shares several good ideas on how to do so effectively.  Armed with a close understanding of the pitfalls awaiting those who fail to plan, Ms. Zeman can provide you or your clients a better understanding of the appraisal process. Ms. Zeman concludes her article by reminding collectors of the dangers of subscribing to the adage “what you don’t know won’t hurt you.” 

 

 

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Or so it was written in a fortune cookie. 

For those with significant liquid assets stored in a wine cellar, careful consideration should be given to the risks that can threaten a valued collection.

In addition to arranging insurance solutions to protect against such risks, we can also assist those with significant wine collections by providing a vulnerability assessment to identify and address the risks that can threaten even well cared for cellars.  Click here for a link to review a series of thoughtful solutions and services designed to help protect wine collections.  

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Before making an art purchase, make sure it is not among the reported $6 billion in stolen works that are on the market each year. Says a leading art attorney: “You can save yourself a lot of aggravation and money by doing your homework first.”  Click this link  http://sev.prnewswire.com/insurance/20080220/NYW05920022008-1.html for more information on an innovative new service provided by a leading insurance carrier.

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